Announcement date
13 June 2025
Link to announcement
Help to Buy Program Directions 2025
Problem being addressed
Home ownership rates have been falling in Australia over recent decades. While a variety of factors, including changing societal attitudes and norms, have impacted home ownership rates, the relative affordability of housing has fallen substantially over the past four decades. Strong and sustained increases in housing prices, particularly compared to growth in incomes, have made both saving for a deposit and servicing a mortgage significantly more challenging, particularly for low-income households. Between 1994 and 2021 rates of home ownership declined from 71.4 per cent to 66.3 per cent.
Proposal